Lamb Weston Holdings Stocks Soared by 6.2%
The share prices for Lamb Weston Holdings have experienced a 6.2% surge in premarket trading. The share prices for the food processing company went up after it shared its earnings for the fourth quarter of 2021.
For the respective quarter, Lamb Weston Holdings revealed that the analysts at Refinitiv had predicted it would generate profit worth 44 cents per share. However, it successfully managed to generate a profit worth 73 cents per share for the same quarter.
Despite generating a high profit, Lamb Weston Holdings wasn’t able to match or beat the revenue estimations. Lamb Weston Holdings reported that the Refinitiv analysts had predicted it would generate revenue worth $969 million. However, they were able to generate revenue that was worth $955 million. Lamb Weston Holdings’ revenue came $14 million less than the Refinitiv estimations.
Constellation Brands Shares Jumped by 4.3%
The share prices for Constellation Brands have experienced a 4.3% surge in premarket trading. The share prices for the spirits, wine, and beer producers went up when it shared its earnings report for the fourth quarter of 2021.
Constellation Brands revealed that for the particular quarter, the Refinitiv analysts had predicted it would generate revenue worth $2.02 billion. As for the earnings, the Refinitiv analysts predicted the company would generate earnings worth $2.10 per share.
Constellation Brands beat the estimations as it successfully generated a revenue worth $2.10 billion and earnings worth $2.37 per share. The company also announced it had upgraded its earnings outlook for the running year.
JD.com Shares Dipped by 4%
The share prices for JD.com experienced a 4% fall in the premarket trading. The company’s shares fell as its current CEO, Richard Liu announced that he would step down as the company’s CEO. However, he will be acting as the chairman of JD.com.
JD.com also confirmed the announcement made by Richard Liu and revealed that Xu Lei, the current Company President would take charge as the new CEO.
Levi Strauss Shares Dipped by 5%
The share prices for Levi Strauss experienced a 5% dip in premarket trading. The jeans maker experienced the dip despite sharing better than expected earnings results for the recently completed quarter.
The Levi Strauss executives confirmed that the Refinitiv analysts had looked forward to the company hitting a profit worth 42 cents per share. As for the revenue, the analysts had expected Levi Strauss to generate $1.55 billion.
Levi Strauss successfully generated much higher profit and revenue than expectations. The analysts revealed Levi Strauss had generated profit worth 46 cents per share and revenue worth $1.55 billion.
Although Levi Strauss generated very high profit and revenue, it did report having its sales hurt for the same quarter. It revealed that just like other clothing merchandise companies, it also experienced issues with its supply chain. As a result, it had $60 million worth of its sales affected due to the constraints.
